Maybank takes the lead although falls 4 spots to 394th place with TNB at 503, CIMB (620) and Public Bank (646)
By FARA AISYAH / Pic By HUSSEIN SHAHARUDDIN
THIRTEEN Malaysian companies are listed in the Forbes’ 16th annual Global 2000 list this year, which is based on a combination of sales, profits, assets and market value.
Malayan Banking Bhd (Maybank) once again leads local companies in the list with a US$29.6 billion (RM117.68 billion) market capitalisation and US$9.13 billion of sales as at June 2018. The bank fell four spots from its 390th place last year to 394 in this year’s list.
Tenaga Nasional Bhd (TNB) is ranked at 503 in the list, compared to 490 last year, with a US$23.1 billion market cap and US$11.04 billion in sales as at June 2018.
CIMB Group Holdings Bhd recorded an improved ranking at 620th place, which was ranked at 671 last year. The indigenous Asean investment bank has a market cap of US$16.4 billion and US$6.64 billion of sales as at the first half of 2018.
Public Bank Bhd, which was listed in the top three Malaysian companies last year (632), now ranked at 646 with a market cap of US$23.3 billion and sales of US$4.73 billion as at June 2018.
Petronas Chemical Group Bhd ranked at 1,268 with a market cap of US$17.1 billion and sales of US$4.05 billion as at June 2018.
Other Malaysian companies in the list are RHB Bank Bhd (1,448), Axiata Group Bhd (1,508), Sime Darby Bhd (1,535), Hong Leong Financial Group Bhd (1,568), Sime Darby Plantation Bhd (1,624), Maxis Bhd (1,779), Genting Bhd (1,811) and AmBank Group (1,911).
Previously, 14 local companies made it to the 2017 list, while 15 companies made it to the 2016 list. Chinese companies extend their streak at the top of the Global 2000 list, with the Industrial and Commercial Bank of China Ltd ranked first for the sixth consecutive year.
China Construction Bank Corp remains in the second spot. The other two of China’s “Big Four” banks — Agricultural Bank of China Ltd and Bank of China (BoC) — remain in the top ten, which is evenly split between China and the US.
JPMorgan Chase & Co is now the largest company in the US, moving up one spot to number three and overtaking Berkshire Hathaway Inc (four).
Rounding out the top 10 are Agricultural Bank of China Ltd (five), Bank of America Corp (six), Wells Fargo & Co (seven), Apple Inc (eight), BoC (nine) and Ping An Insurance Co of China Ltd (10).
As a group, the Global 2000 accounts for US$39.1 trillion in sales, US$3.2 trillion in profit, US$189 trillion in assets and US$56.8 trillion in market value. All metrics are up in double digits year-on-year, with profits gaining an impressive 28%. In addition, there are 131 newcomers to the list this year as the global initial public offering (IPO) market has started to pick up and helped to secure 14 companies on the 2018 list.
Essity Aktiebolag, a Swedish personal care company, was the highest debut in 2018, at 722. Spotify Technology SA, the most high-profile IPO debuted at 1,644 in large part because of its US$27 billion market cap.
Money & Market, Forbes Media deputy editor Halah Touryalai said it has been a strong year for businesses worldwide, and companies on the Forbes 2018 Global 2000 saw their market value, assets, sales and profits jump.
“But while this year’s market correction may not hurt the world’s largest public companies’ looming geopolitical challenges, like a trade war, are a different story.
“With China and the US making up more than 40% of the Global 2000, the possibility of a trade war between the two is a major risk for global companies,” she said in a statement yesterday.